Tag Archives: australia

Australia’s biggest bank facing trillion dollar fines for money laundering

Commonwealth Bank CBA Ian Narev money laundering fines

Even the Commonwealth Bank’s staunchest critics wouldn’t have predicted this one. This is the bank potentially blowing itself up. CBA is facing fines of about a trillion dollars for nearly 54,000 breaches of Australia’s money-laundering laws dating back to 2012. A trillion dollars, which is a thousand billion. About seven times Commonwealth …

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Australian government to track $100 notes with nano-chips

Australia one hundred dollar note nano chips cashless society

The Australian government plans to crack down on the ‘black economy’ by implanting $100 and $50 notes with hi-tech nano-chips so they can be surveilled. No this isn’t a futuristic Hollywood movie, this is Australia in 2017. With around 300 million $100 notes in circulation carrying out such a task seems …

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Australia’s household debt-to-income ratio is at an all-time high

Australia household debt income ratio

The Bank for International Settlements has warned that record household debt levels amassed in the past decade have left Australians among the most vulnerable to a sharp rise in global interest rates. According to the Reserve Bank of Australia, household debt-to-income ratio for Australia is at an all-time high of 189%. …

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Australian propaganda TV outlet Network 10 goes into administration

Network 10 Channel administration

Troubled free-to-air broadcaster Network Ten has been placed into voluntary administration after its billionaire backers walked away. The network was widely expected to enter administration today, after it emerged yesterday that Ten shareholders Lachlan Murdoch, Bruce Gordon and James Packer decided against guaranteeing a new $250 million loan to replace …

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The 2017 ASX Australian investor study top 10 findings

Top 10 2017 ASX Australian investor study

The 2017 ASX Australian investor study results were recently released, here are the top 10 findings from the report: 1 – 60% of Australian adults or 11.2 million people hold investments outside of their institutional superannuation fund. 2 – 37% of Australian adults or 6.9 million people hold investments that are available …

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Australian Police illegally obtain journalist’s phone records

Australian Federal Police Commissioner Andrew Colvin journalist phone records

The Australian Federal Police have admitted to illegally obtaining a journalist’s phone record earlier this year – because the officers “did not know” that they needed a warrant. On Friday, AFP Commissioner Andrew Colvin claimed that officers who were investigating a leak of confidential police material did not know that they …

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